United Policyholders signs on to support repeal of insurance industry's exemption from antitrust laws

Antitrust laws prevent competing businesses from getting together and creating business strategies such as price-fixing that harm the public.   Insurance companies have been exempt from antitrust laws for a very long time.   As a result, insurance products cost more than they should and consumers have less choice than they should.   But most importantly, insurance companies engage in patterns of unfair claim practices such as we've seen in the aftermath of Hurricane Katrina   that appear to be the result of collusion that antitrust laws would bar.

Support is growing in Congress to repeal the industry's antitrust exemption.   United Policyholders recently joined the Consumer Federation of America, Consumers Union, and other public advocates around the country in supporting the repeal legislation.

To read more about this issue and the proposed legislative repeal measure, click on the following three links:

Senate Bill
Senate Banking Testimony, TRIA
Senate Testimony of J. Robert Hunter

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